BlocVehicle

BlocVehicle

Currently, the market breadth of world’s car insurance is approximately trillion dollars. Among the 200 billion dollars that insurance companies use for advertisements, most of the money is used for banner advertising on internet portals. About 30 dollars are given to the portals for a single click on the banner. Nearly 100 dollars are used if a customer tries to compare three different insurance companies.

This results in a vicious circle because the advertising fees become a huge burden for the contractors. BlocVehicle will make the car insurance companies to pay the contractor's Vehicle tokens (VCL) instead of the advertising fees. Subsequently, insurance companies can procure more contractors, and the contractors will experience a 30% discounted premium.

Combining blockchain technology with the rental market and the used-car industry, BlocVehicle is expected to bring great changes to the ecosystem of the available services.

BlocVehicle enables users to store and retain data of their own cars, motorcycles, campers and yachts on a blockchain-based public ledger and will have, similar to what Facebook does, information on users’ cars to be shared with other users. Thus, a car without its maintenance data not made public will not be able to find a place in the market.

BlocVehicle will create the world's best service platform for the used car market, offering a transparent and fair P2P trade system based on a car’s maintenance data.

Mission of BlocVehicle

The mission of the BlocVehicle Team is to build a decentralized blockchain-based network that will allow all users to store their car history data in a public ledger and to make it accessible.

The data, produced under qualitative and quantitative methods, will be integrated and stored in a blockchain-distributed ledger. The qualitative data refers to the photos and video clips of a car’s lifestyle that can be produced by smartphone apps, while the quantitative data are more specialized and technical records produced by auto repair centers, insurance companies, and third-party APIs.

Users will have full ownership of their automotive history data that they have created. Those who wish to obtain these data must acquire approval from the owner and provide a reasonable reward to its owner. In addition, off-blockchain storage will be set up for data backups and other purposes that will present more opportunities for participation.

Why is Blockchain Used?

In the current market, every system has their program and database separated in the development stage. These are designed to be shut off, with each of them having various security solutions such as F/W, access restriction, and encryption. 100% secure protection is not possible to achieve, however, since a centralized control system is susceptible to modification by a system moderator or an admin.

Blockchain, on the other hand, has no such authorities. Systemically, blockchain provides a guarantee of its contents by having a collective group participating in its every step of the way. When a transaction takes places, a countless number of nodes executes the same program simultaneously to verify the process, only terminating itself when the verification is proven successful – making it next to impossible to duplicate or hack the result of the transaction. This is only strengthened by the fact that the communication protocol, a source of the program, and the data is all made open to the public via Internet.

ICO

Token Sales

Token Contract Address : 0xf6AEaC4e30C12eB3a69De72D089c07EAa380B3A0

Token Symbol : VCL (Vehicle Token)

Total Supply Amount : 1,000,000,000 VCL (no additional token)

Platform Ethereum

Type ERC20

Price in ICO 1 VCL = 0.002 ETH

BONUS

Pre-ICO 70%

Step 1 50%

Step 2 25%

Tokens for sale 400,000,000

Investment info

Accepting ETH

Distributed in ICO 40%

Soft cap 2,000 ETH

Hard cap 49,333 ETH

Roadmaps

Dec. 2017

Started project

May. 2018

Published white paper

Jun. 1, 2018

Started pre-sale of tokens to early investors

Aug. 15 - Sep. 14, 2018

Pre-ICO

Jul. 1 - Sep. 30, 2018

Complete BlocVehicle's logical system diagram Complete H/W and S/W logical diagram & development methodology

Sep. 20 - Oct. 31, 2018

ICO

Q4. 2018 - Q1. 2019

Form promotional & regional partnership for Asian market

May. 2019

Complete 1st vehicle system Launch BlocVehicle services (vehicle app, data, dealer & sharing services)

Jun. 2019

Form promotional & regional partnerships for U.S. & European markets

Q1. 2020

Complete 2nd vehicle system Launch vehicle link service for used car providers

Q3. 2020

Complete 3rd vehicle system Launch vehicle link service for car-sharing service providers

Team

Advisors

Website : http://ico.blocvehicle.com

Whitepaper: https://ico.blocvehicle.com/pdf/

ANN : https://bitcointalk.org/

Author: https://bitcointalk.org/index.php?action=profile;u=1953448